Mobileye Global Inc. (NASDAQ:MBLY) reported first-quarter results that surpassed Wall Street expectations and lifted its full-year revenue guidance, driving shares up 12%.
Strong earnings and revenue growth
The autonomous driving technology firm posted adjusted earnings per share of $0.12, exceeding the consensus estimate of $0.09 by $0.03.
Revenue came in at $558 million, ahead of the $519.5 million forecast and representing a 27% increase compared to the first quarter of 2025. The company raised the midpoint of its 2026 revenue outlook by 2%, citing stronger-than-expected demand during the quarter.
Upgraded full-year guidance
Mobileye now expects full-year 2026 revenue in the range of $1.94 billion to $2.02 billion. The midpoint of $1.98 billion stands above the analyst consensus of $1.95 billion.
The stock’s double-digit rally reflected investor optimism around both the quarterly performance and the improved outlook.
One-off impairment weighs on GAAP earnings
The company reported a GAAP diluted loss per share of -$4.68, impacted by a non-cash goodwill impairment of $3.788 billion tied to the goodwill recorded from Intel’s 2017 acquisition of Mobileye.
Despite the accounting charge, Mobileye generated $75 million in operating cash flow during the quarter.
Acquisition impacts cash position
Earlier this year, Mobileye completed its acquisition of Mentee Robotics Ltd., which reduced its cash balance by $591 million, net of acquired cash.
Share buyback announced
The company also unveiled a share repurchase program of up to $250 million, aimed at offsetting dilution from stock-based compensation and shares issued as part of the Mentee Robotics deal.
Demand outlook remains solid
The results highlight strong operational execution despite ongoing challenges in the automotive technology sector, with revenue growth exceeding expectations and management signaling confidence in sustained demand for its autonomous driving solutions.